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Luckbox closes oversubscribed $5.0M CAD financing ahead of TSXV listing

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Luckbox closes oversubscribed $5.0M CAD financing ahead of TSXV listing
Luckbox closes oversubscribed $5.0M CAD financing ahead of TSXV listingReading Time: 2 minutes

 

Leading esports betting company, Esports Limited confirmed its oversubscribed financing closed at $5.0M CAD ahead of an anticipated TSX Venture Exchange (the “TSXV”) listing.

The Company, which provides real-money wagering on competitive video game tournaments to customers in more than 100 countries, anticipates receiving TSXV approval for listing by the fall.

The financing, via a brokered and non-brokered sale of subscription receipts, was closed in connection with a proposed go-public business combination with Elephant Hill Capital Inc.(TSXV:EH.P) (“Elephant Hill”) as capital pool company (CPC) listed on the TSXV, was upsized from the base financing of $2M CAD, despite being conducted during the COVID-enforced lockdown. The subscription receipts sold in the financing will be automatically exchanged for securities in Elephant Hill upon the closing of the proposed go-public business combination with Elephant Hill, which transaction will be the “qualifying transaction” for Elephant Hill pursuant to the policies of the TSXV. Upon the closing of the proposed go-public business combination with Elephant Hill, Elephant Hill will remain listed and all of the security holders of the Company (including those holding subscription receipts sold in the financing) will be exchanged for securities in Elephant Hill, which will retain its listing on the TSXV and will result in the Company being a wholly-owned subsidiary of Elephant Hill.

Among the investors is MLS goalkeeper Luis Robles, who plays for Inter Miami, the franchise co-owned by former Manchester United and Real Madrid star David Beckham.

The brokered portion of the subscription receipt financing was co-led by Gravitas Securities Inc. and Beacon Securities Ltd., along with a syndicate group consisting of Canaccord Genuity Corp., Echelon Wealth Partners Inc., Haywood Securities Inc. and Eight Capital Corp.

The esports betting industry has been among those apparently resilient to the economic damage inflicted by the Coronavirus pandemic, with the Company reporting a 500% increase in betting volume and a 10-fold increase in the number of deposits compared with November 2019.

The Company is now recruiting for five key positions, including a senior marketing role, as it aims to maintain the momentum from a very strong first half of 2020. The Company’s growth plans include rapidly scaling up its global marketing campaign, the acquisition of additional gaming licenses to allow access to additional markets, and the acquisition of an odds provider to be able to offer an unparalleled B2B solution.

In an update to shareholders, the Company’s CEO Quentin Martin said: “The management team and board of directors have been working hard to prepare for the public listing. We have enjoyed positive discussions with the TSXV, completed the Business Plan required for filing, draft financials are complete, with final audit sign-off expected by end of July. Ultimately, we anticipate receiving TSXV listing approval by early October 2020.

“Our management team believes that the esports betting market will continue to grow and that the Company is one of the bookmakers that will be leading the way globally.

“In summary, Luckbox is pleased to have completed a $5.0M financing in connection with its go-public transaction by way of a business combination with Elephant Hill during a challenging period while successfully meeting its Q1 and Q2 roadmap targets which included adding additional languages, user acquisition partners and additional esports titles. We have made tremendous progress in 2020 and look forward to becoming only the second listed dedicated esports betting company on a public exchange.”

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Luckbox closes oversubscribed .0M CAD financing ahead of TSXV listing

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Take Aim at Mega Wins: ELA Games Unleashes Chaos With New Shooter Game “Shoot Happens”

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A chaotic jungle journey with big, bad foes and insane riches.

Welcome to the jungle, where Shoot Happens! Face your opponent, take aim, and fire your way to riches.

ELA Games unveils its boldest title to date, a combination of decision-making and narrative progression where every shot counts.

In Shoot Happens, you’re not just a player. You’re the main character who has to fend off waves of increasingly dangerous (and valuable) monsters. Armed with 3 shots per round, you’ll need precision and calm nerves to take down the reward and add it to your Winpot. Hit the target for riches. Miss… and it’s back to the beginning.

The Choice Is Yours

Each round is in the hands of the player. Do you cash out now? Or keep slashing through the jungle for bigger and better rewards? Decision-making, timing, and a whole load of guts go a long way.

Expect the Unexpected

Random projectile bonuses can appear in any round, boosting your rewards massively. And just when you thought your journey through the treacherous jungle was over, the final boss appears. While the other monsters may have been a piece of cake, he doesn’t stay down. Each time you defeat him, he respawns for juicier and recurring payouts. Keep going as long as you can handle it, and you might walk out as the top dog of the jungle.

Marharyta Yerina, ELA Games’ Managing Director, commented on the game’s release, “With Shoot Happens, the team ventured outside of conventional game formats, and we wanted to give players a super engaging experience where they’re in control. This title is a bold approach to game design in this industry, as we’re empowering players with choice and enriching the gameplay experience with strong visuals, narratives, and plenty of replayability.”

Play how you want. The Winpot is yours

Shoot Happens is the perfect blend of fast-paced action, bold decision-making, and interactive gameplay. Whether you’re a cautious player or a complete daredevil, the game is an enticing experience for all.

How deep into the jungle are you willing to go?

The post Take Aim at Mega Wins: ELA Games Unleashes Chaos With New Shooter Game “Shoot Happens” appeared first on European Gaming Industry News.

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HIPTHER Enters Next-Level Operations Era: E-Residency, Flexibility, Tech & Collaboration

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HIPTHER, the innovative events organiser and media hub behind renowned boutique conferences and online news platforms for the iGaming and Technology industries, is thrilled to announce its new, dynamic era of operations.

Staying true to its international character, HIPTHER breaks free from geographical and logistical limitations by becoming an e-resident company of Estonia and embracing a fully remote work model built on trust, flexibility, and technology.

 

Estonian E-Residency: A Logical Step Forward for HIPTHER

With a strong focus on innovation, digitalisation, and entrepreneurship, Estonia has long been at the forefront of e-governance. For HIPTHER, a company operating across borders with a digital-first mindset, joining the Estonian e-Residency programme was not just a strategic move – it was the natural next step.

The e-Residency allows HIPTHER to maintain a fully online EU-based company, benefiting from Estonia’s transparent business environment, streamlined administration, and modern legal framework. It enables the team to manage operations more efficiently, with secure access to digital services and the freedom to work from anywhere in the world.

Estonia’s global-first approach mirrors HIPTHER’s own values: agility, decentralisation, and forward-thinking, making this alignment more than practical; it’s philosophical. With its new base in the digital nation, HIPTHER further amplifies its mission to connect industries, foster innovation, and redefine how modern companies operate and grow.

 

Remote Work Model: Trust, Flexibility, Collaboration in a Tech-forward Era

Supported by e-Residency and the innovative mindset echoed across HIPTHER’s conferences, virtual events, and media outlets – which cover cutting-edge industries such as Gaming, Fintech, Blockchain, Artificial Intelligence, Cybersecurity, and beyond – the #hipthers are now able to collaborate fully remotely.

Following technological advancements and staying true to its human-centric values of wellness, balance, trust, and originality, HIPTHER takes a bold leap toward remote work –  where others can’t or won’t.

From managing international summits and awards to running online media and virtual panels, HIPTHER has long relied on digital infrastructure, and now turns this into a permanent advantage.

Zoltan Tuendik, HIPTHER’s Co-Founder & Head of Business, shared his thoughts behind this big next step for the company: “We believe in building a future where innovation, flexibility, and human-centric values guide everything we do. For several years now, our team has been working across borders, embracing remote collaboration and digital-first operations. With this step we’re solidifying and elevating a way of working that’s already part of our DNA. Becoming an e-resident company empowers us to bring lasting change and sets the stage for our next chapter of global impact.

 

Join the #hipthers Journey – We’re Hiring!

HIPTHER is growing, and we’re on the lookout for passionate, creative, and driven individuals to join our fully remote team. If you’re excited about working across dynamic industries like iGaming, Tech, Blockchain, and more, we want to hear from you!

 

Open Positions:

  • Social Media & Audience Engagement Lead
  • Virtual Events & Community Coordinator

👉 Check out the openings here –  send us your CV and a short intro to:

[email protected]  or [email protected]

 

We look forward to hearing from you!

The post HIPTHER Enters Next-Level Operations Era: E-Residency, Flexibility, Tech & Collaboration appeared first on European Gaming Industry News.

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Midnite launches in-stadium £1,000 giveaway for Sheffield United and Southampton fans at every home league game

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  • Brace Yourself campaign gives supporters chance to win at every home league match

  • Cash prize awarded every time a home player scores two goals

  • Midnite will match winning prize pot with charitable donation

Fast-growing UK sportsbook Midnite will give Sheffield United and Southampton fans the chance to net £1,000 at every home league match throughout the new season.

Midnite is the front-of-shirt sponsor for Sheffield United and the back-of-shirt sponsor for Southampton and is launching the Brace Yourself campaign for supporters of both clubs.

It means every time a home player scores twice – a brace – one lucky member of the matchday crowd will grab a grand or possibly more – if no brace is scored, the prize pool will roll over to the next home match.

Midnite will also match the prize pool with a donation to charity close to each club.

Fans at Bramall Lane and St Mary’s can enter by scanning QR codes placed around the stadiums and in the matchday programmes and a seat number will be drawn at random before kick-off.

Brace Yourself kicks off on Saturday (August 9) when Southampton host Wrexham and Sheffield United entertain Bristol City.

Andrew Mook, Midnite’s Head of Brand Marketing, said: “We want fans to be on the edge of their seats throughout the season.

“When a home player scores a brace in the EFL Championship this season, Midnite will reward one lucky fan with a cash prize giveaway. Starting off at £1,000 and rolling over each week if there isn’t a winner, the excitement should build throughout the campaign.

“Midnite will also match the fan prize and donate the same amount to a local charity, in a bid to repay some of the amazing work that they do within the local community.”

 

Midnite’s Brace Yourself campaign is open to fans aged 18 and older.

The post Midnite launches in-stadium £1,000 giveaway for Sheffield United and Southampton fans at every home league game appeared first on European Gaming Industry News.

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